Total Petroleum sales arrived at 2.18mn tons in Apr’22, witnessing a jump of 30% YoY and 19% MoM. The growth in sales volumes was primarily attributable to i) jump in auto sales leading to surge in demand of MS, ii) higher reliance on FO based plants, and iii) commencement of harvesting season which augmented HSD demand. With this, MS volumes clocked-in at 0.77mn tons in Apr’22, registering a growth of 14% YoY, while dropping 1% MoM. In addition, High Speed Diesel (HSD) volumes ascended by 17% YoY | 33% MoM settling at 0.92mn in Apr’22. Moreover, Furnace Oil (FO) sales volumes swelled up by 146% YoY | 53% MoM in Apr’22, reaching 0.43mn tons which is on account of higher demand from IPPs.

During 10MFY22, sales of total petroleum products climbed up by 17% YoY to 18.44mn tons against 15.83mn tons in SPLY. Product wise data showed that double digit jump was witnessed in all categories; offtake of MS, HSD and FO clocked-in at 7.45mn tons, 7.30mn tons and 3.11mn tons, respectively.

Company-wise analysis shows that PSO posted a growth of 57% YoY in Apr’22 which was majorly contributed by jump in sales of MS, HSD and FO by 13%, 40% and 302% YoY, respectively. Similarly, sales of APL and SHEL also portrayed a jump of 29% and 15% YoY, respectively. Whereas, HASCOL’s offtake plummeted by 74% YoY amid hefty fall in MS and HSD volumes.

During 10MFY22, PSO’s market share climbed up by 5% YoY to 51% vis-à-vis 46% in 10MFY21. Similarly, market share of APL and SHEL remained unchanged at 9% and 8%, respectively. Whereas, market share of HASCOL dropped by 3% YoY to 1% (4% in 10MFY21). Meanwhile, market share of other OMCs declined to 31% in 10MFY22 from 33% in SPLY .

Courtesy – AHL Research